Cinemark (NYSE:CNK) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of Cinemark (NYSE:CNK) in a report issued on Thursday, Benzinga reports. Wedbush currently has a $25.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.57 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $1.78 EPS.

A number of other equities research analysts have also recently issued reports on the stock. B. Riley upped their price target on shares of Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a report on Friday, May 3rd. StockNews.com lowered Cinemark from a hold rating to a sell rating in a report on Thursday, May 30th. Barrington Research reiterated an outperform rating and set a $24.00 price target on shares of Cinemark in a report on Monday, June 17th. Roth Mkm upgraded shares of Cinemark from a neutral rating to a buy rating and raised their price objective for the stock from $19.00 to $26.00 in a research note on Monday, June 24th. Finally, Wells Fargo & Company upgraded shares of Cinemark from an underweight rating to an overweight rating and upped their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cinemark has a consensus rating of Moderate Buy and a consensus price target of $21.33.

Cinemark Stock Performance

CNK opened at $21.62 on Thursday. The stock has a 50-day moving average of $18.07 and a 200-day moving average of $16.74. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. Cinemark has a 52-week low of $13.19 and a 52-week high of $21.66. The company has a market cap of $2.65 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 2.02 and a beta of 2.27.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) earnings per share. As a group, equities research analysts forecast that Cinemark will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Hsbc Holdings PLC raised its holdings in shares of Cinemark by 496.2% in the 3rd quarter. Hsbc Holdings PLC now owns 218,077 shares of the company’s stock worth $4,010,000 after buying an additional 181,497 shares in the last quarter. Algert Global LLC bought a new position in shares of Cinemark during the third quarter valued at $222,000. Natixis Advisors L.P. boosted its stake in shares of Cinemark by 5.9% in the 3rd quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after purchasing an additional 1,241 shares in the last quarter. Teza Capital Management LLC grew its holdings in shares of Cinemark by 52.5% in the 3rd quarter. Teza Capital Management LLC now owns 63,467 shares of the company’s stock worth $1,165,000 after purchasing an additional 21,853 shares during the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Cinemark during the 3rd quarter worth about $280,000.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.